3202020
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

Form 7206 Line 14 Not Translating to Schedule 1 Line 17

@oc007  It is frustrating.  I've send numerous requests for support on this and I'm getting stonewalled.   No one at TT can explain that disclaimer at the bottom of 7206 and how they come up with that number, but it basically zeros out my self-employed health insurance deduction.  Line 14 of 7206 clearly states the correct deduction but it just doesn't carry over to my 1040.   I wonder if anyone paid the $60 for the extra TT support and got an good outcome.  I haven't seen a fix on this support website that works.

Form 7206 Line 14 Not Translating to Schedule 1 Line 17

I had this problem with the TurboTax Online version last year.  Specifically, the problem was that Form 7206 Line 14 was correct but did not carry over to Schedule 1, Line 17 (that line was blank).  I was able to resolve it as follows:


1.  Go to Deductions & Credits -> 
Affordable Care Act (Form 1095-A)  -> Edit -> Continue.   
2.  The problem is the pesky "I'm self-employed and bought a Marketplace plan" box.  I unchecked that box. 
3.  Then I went to Wages & Income -> Self Employment -> Add Expenses -> Health Insurance Premiums and entered the total premiums paid, restoring the deduction to Schedule 1, Line 17.  And I triple-checked to make sure it did NOT double-deduct.  In other words, no, by entering that amount in the Expenses section, it DID NOT deduct from my Schedule C income - which is good because you can't do that. 

 

But now, THIS YEAR, I just got done filing, and something similar happened, but this time, instead of not carrying over at all, it DOUBLE carried over!  Don't ask me how, but my Form 7206 Line 14 was correct; however, when I audited my Schedule 1, Line 17, it was DOUBLE!  How and why?  Who knows!  But I remembered there was this issue last year, so I went back to that pesky "I'm self-employed and bought a Marketplace plan" box on Form 1095-A, unchecked that box, and voila, the Schedule 1, Line 17 amount magically matched my Form 7206, Line 14!  🙂

The lesson here is this: Be wary of TurboTax and review your return before filing it!

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question